Izhmash, official maker of the AK and Saiga rifles, filed for bankruptcy!!!

Steve Johnson
by Steve Johnson

Izhmash, possibly the world’s most famous arms manufacturer, has filed an application for bankruptcy with the Russian courts. Pravda reports

Izhmash, the pride of the nation’s defense industry, may prove to be an unprofitable enterprise. Udmurtia’s Court of Arbitration will look into the financial documents of the group of enterprises of Izhmash Concern. If reasons for bankruptcy are unveiled, Russia’s largest maker of firearms will have to be reorganized. >

Izhevsk owns the designs and trademarks of many different guns including:

  • AK-47, AK-74, AKM and AK-100 series.
  • SVD Dragunov sniper rifle.
  • Tigr rifle (civilian SVD).
  • Saiga rifles and shotguns.

I asked Max Popenker, well known author and owner of world.guns.ru, about the situation. Max told me that the upper management of the company has been absolutely useless for years. He thinks eventually the government will save the company, but he is not optimistic about its future.

If you were thinking about buying a Saiga rifle or Saiga-12 shotgun. I suggest you buy it right now.

Many thanks to Jay for alerting me to the situation.

Steve Johnson
Steve Johnson

I founded TFB in 2007 and over 10 years worked tirelessly, with the help of my team, to build it up into the largest gun blog online. I retired as Editor in Chief in 2017. During my decade at TFB I was fortunate to work with the most amazing talented writers and genuinely good people!

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  • Ernst Krenkel Ernst Krenkel on Oct 07, 2009

    Just a short notice: The court said today that Izhmash is not bancrupt.
    More here:

    http://backyard-safari.blog...

    Best regards,

    E. K.

    • Steve Steve on Oct 07, 2009

      @Ernst Krenkel Ernst, thanks. Will post on the blog shortly.

  • Peter Peter on Sep 03, 2012

    If Izhmash makes AK 47/74/AR15 pistols around $400 in the states, they will sell like hot cakes & also the hi-cap mags for Saiga rifles and shot guns. I would make platform interchangable with the AR, I would think people would buy to have both AK & AR together.

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